The Labor Department said U.S. import prices edged up 0.1% in December, their smallest increase in five months.
In 2017 import prices increased 3.0% after advancing 1.9% percent in 2016. That was the biggest calendar year increase since 2011.

The Mortgage Bankers Association says total application volume rose 8.3% last week. Refinance applications were up 11% from the previous week. Mortgage applications to purchase a home rose 5% for the week but are 1% lower than one year ago. Rates were higher at the start of 2017 than they are now. The average interest rate for 30-year fixed-rate mortgage was 4.23%.

China may reduce or halt U.S. Treasury purchases. After building up its stake in U.S. Treasuries during 2017, China's central bank is rumored to be mulling over the idea of reducing or even halting purchases of U.S. government debt. The news helped push the yield on the benchmark 10-year note past 2.55% for the first time since March of 2017. (LPL)